The US economy is officially in recession

Homepage | Forums | Topics In Depth | Economics | The US economy is officially in recession

Viewing 3 reply threads
  • Author
    Posts
    • #324563
      N2Doc
      Participant
      • Total Posts: 7,524

      The National Bureau of Economic Research said Monday that the COVID-19 crisis has officially launched the U.S. economy into a recession, thus ending the longest economic expansion on record.

      The committee said that it had determined that economic activity had peaked in February, citing sharp drops in employment and personal consumption following that month. The recession declaration ended the 128-month economic expansion that began in June 2009, which eclipsed the 1990s recovery as the longest on record.

      When the NBER declares a “peak,” it essentially marks the beginning of a period of “significant decline.”

      more

      https://ca.finance.yahoo.com/news/us-economy-officially-in-recession-nber-165226139.html

    • #324571
      jwirr
      Participant
      • Total Posts: 1,501

      Is that Wall Street is in a recession and many of us on the bottom are in a depression. But I am sure no one cares.

      jwirr

    • #324728
      Joe Shlabotnik
      Participant
      • Total Posts: 803

      Corrected now.

      ~ All good things are Wild and Free ~

    • #324972
      Ohio Barbarian
      Moderator
      • Total Posts: 14,635

      It’s a recession when your neighbor loses his job. It’s a depression when you lose yours. —Harry Truman

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      Show me a man that gets rich by being a politician, and I'll show you a crook.--Harry Truman

Viewing 3 reply threads
  • You must be logged in to reply to this topic.